I am looking for some input into what you feel is the most consistent daytrading style. I have been trading quite some time now and have been focusing on listed news plays for quite some time now. Lately I haven't been able to find too many good plays.
Most of these plays are gapping up (or down) quite a lot and not really doing much after that - maybe the specialists are that good that they can factor everything into the opening print and take all the juice out of a potential play.
I used to trade nasdaq stocks but got away from that and really haven't done much with them for a couple of years now - although I really don't mind the way that they trade. Another problem is getting short a listed stock as I dont' have access to bullets. There are many good plays that the specialist just doesn't give you an uptick.
I have heard a lot of people say that you should focus on a handful of stocks and trade them each and everyday. I used to do this with the semi stocks back in like 98 and 99. The strategy was marginally successful. The problem with focusing on a handful of listed stocks is that I feel you must have access to bullets which I don't.
Maybe I need to take another look as nasdaq? Although I'm not sure whats going to happen when SuperMontage comes on board. I really don't like to scalp but this market is really tough.
fade the gaps